1. Gemini - insists DCG needs to resolve liquidity issues

2. Wyre - said to shut down as CEO admits “scaling back”

3. CoinCorner - partners with Pouch to power remittances to the Philippines

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109 years ago, the Federal Reserve was founded.

Since then, the US dollar has lost over 96% of its value.

So, is this USD project dead or should we buy the dip?

1. FTX – Founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

2. Stripe – Announces an embeddable and customizable fiat-to-crypto onramp widget

3. Remittances – People in Nigeria, Kenya, and Ghana can now receive instant, low-cost remittances in local currency from the US, EU, and the UK. Powered by Bitnob's API and the Lightning Network.

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1. FTX - Holds $0 of bitcoin assets, yet it has $1.4B in customer bitcoin liabilities

2. BlockFi - Prepares for bankruptcy as crypto contagion spreads

3. Gemini Earn - Paused withdrawals

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Bitcoin is hope for those oppressed by monetary colonialism.

1. Fedimint — Fedi raised $4M to accelerate the development of the Fedimint protocol and its companion app Fedi (coming in Q1 2023) — tools that can improve and scale bitcoin custody.

2. Tesla — Posted a gain of $64M on the sale of 75% of its bitcoin holdings that netted it $936M in the 2nd quarter, as well as an impairment of $170M on its remaining holdings

3. Chipotle — Launched "Buy the Dip" online game giving customers the chance to score in on over $200K worth of cryptocurrency (Bitcoin, Ethereum, Avalanche, Solana, and Dogecoin) and 1-cent guacamole and queso blanco

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Lightning vs. Mastercard: payment race

1. BlockFi – Acquired by FTX for "up to" $240M

2. Cash App – Introduced Round Ups, a way to invest your spare change into bitcoin, a stock, or an ETF

3. Nubank – Now allows 53M Brazilians to buy BTC and ETH via Paxos integration

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1. Coinbase Pro is shutting down to merge trading services

2. Citi is launching bitcoin custody service for institutional investors

3. Voyager is currently limiting their withdrawals

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U.S. SEC Chair, Gary Gensler, says bitcoin is the only cryptocurrency he is prepared to call a commodity.

1. Web5 – TBD presents bitcoin-based decentralized Web5

2. PayPal – Customers can now transfer, send, and receive bitcoin on-chain

3. Crash – Nobody is too big to fail; The fall of Celsius and 3 Arrows Capital

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Redditor made a comparison between this crash and previous crashes

1. Ukraine – Raised more than $54M as bitcoin donations pour in to support the war against Russia

2. Networks – Visa, Mastercard, and AMEX suspend operations in Russia over Ukraine invasion

3. PayPal – Shuts down its services in Russia

4. Russia – Bitcoin is worth more than all of Russia’s circulating money

5. Russia – Proposed bitcoin bill prohibits self custody and requires you to pass a test to buy more than $650/year

6. War – The invisible cost of war in the age of quantitative easing

7. Canada – Regulator warns crypto exchanges not to promote self-custodial wallets

8. UK – Bitcoin ATMs have been declared illegal and forced to shut down in the UK

9. India – India’s young investors prefer bitcoin to gold and ‘boring’ stocks

10. Switzerland – city of Lugano will accept Bitcoin, Tether, and LVGA tokens

11. Inflation – Reached 7.9% in February; consumer prices are the highest in 40 years

12. Cash App – Shake Shack tests 15% Bitcoin Boost reward

13. Biden – Issued long-awaited US executive order on bitcoin and crypto

14. Wallet – Passport Batch 2 and Envoy mobile app unveiled

15. $165M – Okcoin and Stacks launch $165M collective investment to push Bitcoin and Stacks adoption

Tweets of the Week

1. Canada – Sanctions 34 crypto wallets tied to trucker ‘Freedom Convoy’

2. BlockFi – SEC fines BlockFi $100M for paying people ~8% interest while traditional bank savings accounts pay ~0.06% interest

3. Inflation – US inflation hits a 40-year high of 7.5%

4. Coinbase – Bouncing QR code Super Bowl ad was so popular it crashed the app

5. Cash App – Activating Lightning is the biggest game-changer. It is the tipping point. Exponentially accelerating adoption begins now.

6. TRUST – Coalition of US crypto firms unveils travel rule compliance platform. Founding members include BitGo, bitFlyer, BlockFi, Circle, Coinbase, Fidelity, Gemini, Kraken, Paxos, Robinhood, and others.

7. FBI – Launches new crypto crimes unit

8. Federal Reserve – Top Federal Reserve officials will be barred from owning many securities (stocks, bonds, crypto, etc.) after a trading scandal and a series of prominent resignations

9. Stratum V2 – Can improve bitcoin’s resilience and censorship resistance by giving individual miners, rather than pools, control over transaction selection

10. Mining – Illinois and Georgia have proposed giving tax breaks to bitcoin mining companies

Tweets of the Week

1. $4.5B – After more than 6 years, $4.5B worth of bitcoin stolen from crypto-exchange Bitfinex was recovered by the US government in its largest asset seizure in history

2. Diem – Facebook’s cryptocurrency venture is winding down and selling its technology to crypto-focused bank Silvergate Capital for $200M

3. Diem – Jack Dorsey says Zuckerberg should have focused on bitcoin, not Diem

4. Cash App – Lightning Network is now available on Cash App. It’s the fastest, free way to pay anyone in bitcoin.

5. Chivo – El Salvador’s government contracted a U.S. software company to fix its buggy state-sponsored bitcoin wallet and implement the Lightning Network

6. Russia – Proposed regulation would treat bitcoin as a foreign currency

7. Lebanon – Lebanon is planning for its currency to be devalued by 93%, depositors will lose ~$50B

8. Shopify – CEO of Shopify, Tobias Lütke, joins Coinbase Board of Directors

9. Uber – CEO of Uber said, “Is Uber going to accept crypto in the future? Absolutely. At some point. This isn’t the right point, but we will.”

10. Everbowl – QSR with over 50 locations will now run its business operations off the Bitcoin Standard and is converting cash reserves to bitcoin

11. Fidelity – Bitcoin first: why investors need to consider bitcoin separately from other digital assets

12. Intel – Launched a new chip for blockchain applications such as bitcoin mining. Argo Blockchain, Block Inc., and GRIID Infrastructure are among the first customers

Funding

• $385M – Compute North, a bitcoin mining company, has raised $385 million in equity and debt funding

• $150M – Trust Machines, co-founded by Stacks, says it wants to extend bitcoin from being only a passive store of value to being the final settlement layer for a powerful new computational platform.

• $20M – OpenNode, a bitcoin PSP, raised a $20M Series A from Twitter, Tim Draper, Fidelity, and others at a $220M valuation

• 21 BTC – Canadian truckers have raised $1M worth of bitcoin after GoFundMe froze millions in donations

Tweets of the Week